betreffende goud..:
Commodities come under heavy selling
pressure from the COMEX pit open, with stops
tripped on the way through overnight lows in
spot gold, bringing prices below USD 1,700
Analysis details:
- WTI Crude futures print a low at USD 87.59 as the move brings WTI below USD 88.00, with
Brent futures printing a concurrent low at USD 109.25.
- Additionally, a tier 1 bank has recommended Gold as another major liquidation trade. The
bank notes that USD 1,693 is the 50% retracement of the August rally, while USD 1,668 is the
61.8% level.
- Earlier in the session, there was market talk that there had been an unwind of long gold
positions into peripheral bonds as investors move out of CHF, due to negative deposit rates
being communicated to clients by Credit Suisse.